Applebee's Strikes Deal With Shareholders Over IHOP

Law360, New York (October 15, 2007, 12:00 AM EDT) -- Restaurant chain Applebee's International Inc. has reached an agreement with shareholders that will bring an end to a lawsuit filed over a proposed $1.9 billion merger with IHOP Inc. Applebee's will give shareholders more information about the transaction, but will not have to pay out a settlement.

Applebee's said on Monday that it had reached a deal with the New Jersey Building Laborers Pension and Annuity Funds, which had sued the restaurant chain just after executives announced the IHOP deal.